version 2.1 - effective 20 September 2016
2.0 ACKNOWLEDGEMENT OF ODFI RELATIONSHIP
3.0 POINT OF SALE (POP) – ADDITIONAL TERMS AND CONDITIONS
4.0 ACH DEBIT (PPD) – ADDITIONAL TERMS AND CONDITIONS
5.0 CHECKS BY PHONE (TEL) – ADDITIONAL TERMS AND CONDITIONS
6.0 CHECKS BY WEB (WEB) – ADDITIONAL TERMS AND CONDITIONS
7.0 Identification and Verification Services Addendum
Checks-by-Phone service is not applicable for telemarketing businesses (or the like) in which the primary function of the business is outbound sales calls. Unacceptable businesses for this program include cold-calling, “boiler rooms”, mail order marketing, credit repair and/or credit establishment opportunities, vacation and/or benefit packages, investment opportunity operations in which there is no pre-existing relationship between the merchant and the customer and whereby merchant is engaging primarily in outbound call and/or outbound mail activity to initiate a check by phone transaction. If merchant violates this agreement by participating in such business practices, processor shall immediately hold all merchant’s funds, cancel this agreement, debit merchant’s account for all returns, and take other legal action as deemed necessary by processor’s legal counsel, the federal trade commission, the United States Postmaster General, and/or NACHA (National Automated Clearing House).
This Agreement includes all of the terms and conditions contained on https://www.achq.com/terms. This Agreement has been executed on behalf of and by the authorized management of each party as of the date below. Merchant authorizes ACHQ or any credit reporting agency by ACHQ or agent of ACHQ, to make whatever inquiries that ACHQ deems appropriate to investigate, verify or research references, statements or data obtained from Merchant for the purpose of this application for accompanying POS terminal(s) or equipment financing.
Personal Guarantee: To induce and in consideration of ACHQ acceptance of the ACH Debit Service agreement, the undersigned (herein referred to as “Guarantor”) unconditionally, personally, individually, jointly and severally guarantees performance of the Merchant’s obligations under this Agreement and payment of all sums due thereunder and hereby continues to personally indemnify ACHQ for any and all funds due from Merchants under the terms of this Agreement. Personal Guarantee is NOT required or enforced for Non-Profit organizations.
ACH Debit/Credit Authorization: Merchant hereby authorizes ACHQ in accordance with this ACH Debit Agreement to initiate debit/credit entries to Merchant’s checking account, as indicated per the attached copy of a voided check from same. The authority is to remain in full force and effect until (a) One hundred and twenty (120) days after ACHQ has received written notification from MERCHANT of its termination in such a manner as to afford ACHQ reasonable opportunity to act on it, and (b) all obligations of Merchant to BANK/ACHQ that have arisen under this agreement have been paid in full.
All information contained on this application was completed by owners and/or officers of merchant and they warrant that all check information and sales volume indicated throughout this application are accurate and acknowledge that any variance to this information could result in delayed and/or withheld settlement of funds as well as the loss of all guarantee privileges of all checks. No blank spaces were left incomplete. N/A or None has been filled in any spaces where applicable. This agreement shall not be binding or take effect until merchant has been approved by a ACHQ officer and a merchant number has been issued with check limit and guarantee limit.
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